PepsiCo Inc. reported the settlement and final results of its $1 billion green bond launched Oct. 7.
As of the Oct. 9 settlement date, approximately $974 million of the $1 billion principal amount of the notes have been tendered.
The U.S. food and beverage giant previously said that the proceeds from the green bond will fund projects that purchase and develop biodegradable or recyclable alternatives to plastic packaging, replace fossil fuel-powered cars with electric vehicles in its supply chain, train farmers to improve soil health and give them access to water-saving technologies like drip irrigation, and support water recycling and reuse.
Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC and Mizuho Securities USA LLC acted as joint book-running managers for the offering.
